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Premium bond discovered after probate - nightmare executors

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  • Premium bond discovered after probate - nightmare executors

    Ive posted a few times before about my grandparents acting as executors of my Mum's estate and how they behaved terribly whilst doing so. Ultimately, I decided that chasing them for the nasty things they did wasn't worth the upset and hassle, everything was signed off and I thought it was all over.

    I've had a message from them today to say that they've completed some paperwork to transfer Mum's premium bond over to me and are sending me the paperwork. I'm pretty sure that not only can premium bonds not be transferred but that this is something which they should have dealt with before closing probate. My grandmother was definitely aware it existed.

    I replied to say that any premium bonds count as part of the estate and that they need to let their solicitor know and make sure everything is sorted out properly. They've replied to say they're tired of sorting everything out, it only cost a pound when it was purchased and that if I want to involve the solicitor again I'll have to pay for it myself.

    As the beneficiary where do I stand and what should I do? I have no idea if Mum ever checked the bond to see if she'd won so while I appreciate it probably isn't worth millions there could be more than the initial pound there. Mum's estate was nowhere near big enough to pay inheritance tax so in a way I feel a bit silly worrying about it but could someone help me understand the consequences of this or any other asset they 'discover' in the future.
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  • #2
    Hi Catcabin,
    You've had a real nightmare following your mother's death. How many bond certificates are there? If it is only 1 then it probably is not worth worrying about. However if there are unclaimed 'wins' then these should have been dealt with as part of your mother's assets for probate.
    This link may help answer most of your questions:- https://www.nsandi.com/what-do-i-do-...tomer-has-died
    The premium bonds can be kept in the prize draw for 12 months after the death and any monies paid to the estate. It may be an idea to contact NS&I to check. They are generally pretty helpful.
    Bearing in mind the issues you have had with your grandparents I think I'd be inclined to deal with this myself. If the amount of premium bond certificates is very low I suspect if will not affect the estate accounts. If there are any prizes to be cashed then you may need to complete forms available on the NS&I for payment to be made to the estate. They will I suspect, only deal with the person with authority to deal with the estate so the executors but you may be able to complete the forms for them so all they need to do is sign and return them to you to send on.
    Check out the amounts first before approaching them, then you can make a decision.
    Always here so do pop back if needs be and we'll try and point you in the right direction.
    I am a qualified solicitor employed by the LegalBeagles forum to provide guidance on a wide range of legal queries. I am happy to try and assist informally, where needed.

    Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any practical advice I give is without liability. I do not represent people on the forum.

    If in doubt you should always seek professional face to face legal advice.

    Comment


    • #3
      Thanks Peridot, I'll wait for them to send me everything and see what they're worth. They've said they filled in a form, but didn't give me any details about it and have been ignoring me since Friday. Given that it's probably only a pound or two, would I need to talk to the solicitor they hired about correcting anything or do you think I'll be able to just leave it as is?

      Comment


      • #4
        Hi,
        If only a couple of pounds probably not worth worrying about contacting solicitors. They should tell you the same the cost of having them deal would massively outweigh any benefit if there are only a few to deal with.
        I am a qualified solicitor employed by the LegalBeagles forum to provide guidance on a wide range of legal queries. I am happy to try and assist informally, where needed.

        Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any practical advice I give is without liability. I do not represent people on the forum.

        If in doubt you should always seek professional face to face legal advice.

        Comment


        • #5
          I've managed to confirm now that the blimmin' thing is only worth a pound - I'm going to try to talk to NS&I directly and see what they say. Hopefully this is the last thing they 'find'!!

          Comment


          • #6
            The forms are on the NS & I web site but you wouldn't believe the complexity

            Comment


            • #7
              Just a quick update and (hopefully!) a final query!

              I talked to NS&I, explained everything and they insisted that the only way anything could be done was if I filled in the appropriate form and posted it to them with a death certificate and a letter explaining the situation. Which I did.

              They then replied to my letter to say that they needed my grandparents' signatures on the same form I had already sent them before they could even pass it on to the right department.

              I contacted them again online to ask if they couldn't transfer the money (because, I mean, £1..) could they at least put a note on the account to say they'd received a copy of the death certificate and that the bond was orphaned or something along those lines. Apparently not. They can't consider that they've been notified of her death until my grandparents sign the form and things can be passed to the right department.

              My grandparents appear not to be speaking to me. As far as I can tell this is because I asked them to sign the form and post it off in the first place rather than send it to me, but to be honest who even knows any more.

              ​​​At this point they've managed to cut me off from the whole family and I'd really just rather move on from the whole thing and hope they stop creating ridiculous drama. I've written off family relationships along with all of the missing items, money etc!!

              So - Is sensithere any reason why I can't just leave things as they are with NS&I? Am I obligated to push to notify them further? Or is it fine to leave it at 'Ive done my best to tell them, sent a death certificate as requested and spent more on postage than the bond is worth whilst doing so'?

              Comment


              • #8
                It's £1 premium bond
                Put it in a drawer or the fire and forget it!
                Last edited by des8; 13th June 2019, 16:58:PM. Reason: spelling

                Comment

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